State budget collection tumbles in ten months
Total State budget collection in the first ten months of this year was estimated at VND1.13 quadrillion (US$48.7 billion), or 75.2% of the annual estimate and down 10.3% year-on-year, according to the Ministry of Finance.
Of the total, VND959.2 trillion was domestic collection, accounting for 75.9% of the estimate and falling 6.8% against the same period last year. Meanwhile, VND29.65 trillion came from crude oil, or 84.2% of the estimate and down 37.2% year-on-year.
Expenditure in the first ten months stood at more than VND1.26 quadrillion, equivalent to 72.1% of the estimate and up 9.7% from the same period last year.
As of October 26, some VND17.77 trillion had been set aside for the prevention of COVID-19 and support for people hit hard by the outbreak.
Some VND3.17 trillion was spent on recovering from the consequences of natural disasters and the African swine fever outbreak, while VND500 billion was used to support five flood-hit provinces in the central region.
The ministry said State budget collection faced difficulties this year due to the pandemic and climate change.